Power lines run past TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Power lines run past TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Dredgers stand in the Loy Yang open cut coal mine, operated by AGL Energy Ltd., on the outskirts of Traralgon, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Dredgers stand in the Loy Yang open cut coal mine, operated by AGL Energy Ltd., on the outskirts of Traralgon, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at the Loy Yang A coal-fired power station, operated by AGL Energy Ltd., front, and Loy Yang B coal-fired power station, co-owned by GDF Suez Australian Energy and Mitsui & Co., rear, as they stand next to the Loy Yang open cut coal mine on the outskirts of Traralgon, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at the Loy Yang A coal-fired power station, operated by AGL Energy Ltd., front, and Loy Yang B coal-fired power station, co-owned by GDF Suez Australian Energy and Mitsui & Co., rear, as they stand next to the Loy Yang open cut coal mine on the outskirts of Traralgon, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Smokestacks stand next to the main processing building of GDF Suez Australian Energy's Hazelwood coal-fired power station in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Smokestacks stand next to the main processing building of GDF Suez Australian Energy's Hazelwood coal-fired power station in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

GDF Suez Australian Energy's Hazelwood coal-fired power station stands behind the facility's pondage in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

GDF Suez Australian Energy's Hazelwood coal-fired power station stands behind the facility's pondage in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

GDF Suez Australian Energy's Hazelwood coal-fired power station stands behind the facility's pondage in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

GDF Suez Australian Energy's Hazelwood coal-fired power station stands behind the facility's pondage in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Morning mist surrounds GDF Suez Australian Energy's Hazelwood coal-fired power station as steam billows from the facility's smokestacks in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Morning mist surrounds GDF Suez Australian Energy's Hazelwood coal-fired power station as steam billows from the facility's smokestacks in Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

A disused, mined field sits in front of a body of water supplying nearby coal-fired power stations near Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

A disused, mined field sits in front of a body of water supplying nearby coal-fired power stations near Morwell, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

TRUenergy Holdings Pty's Yallourn coal-fired power station stands behind a fence in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

TRUenergy Holdings Pty's Yallourn coal-fired power station stands behind a fence in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images

Steam billows from the cooling towers at TRUenergy Holdings Pty's Yallourn coal-fired power station in Yallourn, Australia, on Thursday, July 25, 2013. Australian Prime Minister Kevin Rudd will cut spending and limit tax concessions to fund a move to emissions trading a year ahead of schedule, should his Labor government win this year's election. Photographer: Carla Gottgens/Bloomberg via Getty Images